Crypto market recap: BTC holds near $75,500 as trading volumes stay weak
Bitcoin has delivered its best monthly performance in a year, rising around 12% in April. However, the rally is being met with skepticism as trading volumes remain unusually low, signaling limited conviction from retail investors.
Highlights
- Bitcoin has gained approximately 12% in April, its strongest monthly performance in a year.
- Daily trading volume has dropped below $8 billion, the lowest since October 2023.
- The Fear & Greed Index is at 29, still indicating Extreme Fear.
Market snapshot
As of April 30, Bitcoin was trading near $75,506. While the cryptocurrency has shown solid gains over the past month—its strongest since April 2025, when it rose 14.3%—it has struggled to maintain upward momentum in recent days.
Ethereum was trading around $2,241.
The Crypto Fear & Greed Index stood at 29, remaining firmly in the “Extreme Fear” zone, although it has edged slightly higher in recent sessions.
Weak underlying activity
On-chain data provider Glassnode reported that Bitcoin’s daily trading volume recently fell below $8 billion—the lowest level since October 2023, when BTC was trading under $40,000. This disconnect between price appreciation and actual trading activity suggests the current rally is being driven more by institutional flows and short-term speculation than broad-based demand.
Analysts note that despite continued inflows into spot Bitcoin ETFs, retail participation remains subdued. This lack of widespread buying support raises questions about the sustainability of the recent price increase.
Outlook and risks
The current market structure reflects a classic divergence: price is moving higher, but underlying participation and volume are not confirming the strength of the move.
Without a meaningful recovery in spot demand and trading activity, Bitcoin may face increased risk of correction, especially if macroeconomic conditions deteriorate or institutional buying slows.
Earlier, we reported that BTC holds near $77,000 as the U.S. readies an Iran blockade.
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